Published: 09-03-2017 09:20

Stern Groep N.V., listed Dutch market leader in automotive retail and services, announces its results for 2016.

Key points in 2016

  • Net revenue amounted to €1,097.6 million (2015: €1,095.2 million).
  • Gross EBITDA amounted to €74.9 million (2015: €71.7 million).
  • The result before tax is €15.4 million and is its highest ever (2015: €14.4 million).
  • The result after tax is €11.3 million (2015: €11.1 million).
  • The result includes a net amount of €2.2 million in non-recurring income (2015: €0.8 million).
  • The market share for new passenger cars has increased to 5.7% (2015: 5.4%).
  • The market share for new light commercial vehicles is 8.1% (2015: (8.7%).
  • The lease portfolio showed autonomous growth of 11.7% to 10,099 contracts at year-end 2016 (growth at national level: 5.7%).
  • The total number of vehicles managed by Lease  has risen to 13,149 (2015: 12,031).
  • The negotiations  with the banks on the refinancing are progressing positively. We expect to announce details (including the size and conditions) at the General Meeting of Shareholders.
  • A dividend for the 2016 financial year of €1.00 (2015: €1.00) per share will be proposed to the General Meeting of Shareholders on 10 May 2017. An interim dividend of €0.25 per share has already been distributed in December 2016.
  • 2017 features the new 3-year plan ‘More Solutions and Services’.
  • The 2016 annual report will be available online from 16 March 2017.

Henk van der Kwast, Chief Executive Officer:

“Since March 2016, Stern has been working on a new and clearly formulated strategic plan that builds on the direction we took several years ago of transformation from a large dealer holding company to an integrated and highly profitable mobility group with an increasing range of our own products and services. The essence of this new plan is the shift of focus from operating car dealerships to offering mobility solutions and services and a conscious choice for more autonomy and less dependency. If the new strategic plan is implemented with vigour and discipline, supported by a sophisticated online proposition, the plan can significantly increase Stern’s EBITDA in the years to come. We see a doubling of the current level by 2020 as a distinct possibility. Around a third of the increase will have to come from cost savings and synergy benefits. Around two thirds will have to come from More Solutions and Services.”

Press here for the full press release dated 08 March 2017 in English

Klik hier voor de pdf van het volledige persbericht d.d. 08 maart 2017 in het Nederlands